Janney Montgomery Scott downgraded Eversource (ES) to Neutral from Buy with an unchanged $72 fair value estimate. The firm expects the Connecticut regulatory environment will become more constructive, “perhaps to the extent that we could revisit our valuation multiples with a positive bias,” but for now it views the current valuation as “fair and reasonable” following the recent rise in Eversource Energy’s share price, the analyst tells investors.
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